Early morning $SOL major whale movement! 620,000 SOL dumped, is the bear market meat grinder officially starting?
Bear claws pressing down, SOL is difficult to escape short-term fluctuations and bottoming out, bottom fishing? Be careful not to catch it halfway up the mountain!
1. Technical breakdown!
1. MACD indicator directly lights up red: The MACD line plummeted from 1.8 to -2.3, crossing below the signal line to form a "death cross," with each green bar in the histogram getting thicker, clearly indicating that the downward momentum is still accelerating. This signal is commonly referred to as a "death charge" in the crypto space; unless there is a significant positive development, the probability of a downward inertia is greater.
2. The trading volume is even more strange—5.2M increase, but the price is hitting harder and harder, a typical case of "volume breaking support." What does this indicate? The main force is fleeing! Especially as on-chain data shows that multiple whale addresses have transferred over 620,000 SOL to exchanges in the past 24 hours. Such a level of selling cannot be borne by retail investors; it's definitely a case of "big players offloading, retail investors left holding the bag."
3. Looking at the MA moving averages, the price has already fallen below all short-term moving averages (5-day, 10-day), and the moving averages are showing a "bearish arrangement" (short-term down, long-term up). Once this structure forms, it essentially stamps an "official certification" on the downward trend.
2. Latest news supplement:
1. Negative news fermentation: A top DeFi protocol in the Solana ecosystem was reported to have a contract vulnerability. Although the team rushed to fix it, panic led to capital outflow exceeding $120 million;
2. On-chain anomalies: The SOL inventory on exchanges surged by 15% in 24 hours, with large on-chain transfers frequently appearing, and selling pressure has not yet been fully released;
3. Macro drag: The Fed's hawkish remarks suppress the market, Nasdaq futures fell by 1.5%, and the high-volatility coin SOL is under obvious pressure.
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